Terms used
244A Terms used
In this Part —
accounting standard has the meaning given in section 244ZZB;
audit means —
an audit conducted for the purposes of this Act; or
a review of a financial report conducted for the purposes of this Act;
auditing standard has the meaning given in section 244ZZB;
consolidated entity means a co‑operative together with all the entities it is required by the accounting standards to include in consolidated financial statements;
directors’ declaration has the meaning given in section 244K(4);
financial report means an annual financial report or a half‑year financial report prepared by the co‑operative under this Part (and see section 244K);
financial statements has the meaning given in section 244K(2);
notes to the financial statements has the meaning given in section 244K(3).
Terms used in this Part have the same meaning as they have in the Corporations Act and in particular in Chapter 2M of the Corporations Act.
Without limiting subsection (2), a reference in this Part to an entity that a co‑operative controls is a reference to an entity that the co‑operative controls within the meaning of the Corporations Act section 50AA.
[Section 244A inserted: No. 7 of 2016 s. 85.]
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